Buying real estate instead of renting an apartment

  • Erstellt am 2020-08-16 12:45:28

EssalGee

2020-08-16 12:45:28
  • #1
Hello community,
I am not exactly sure if this is the right forum, if not, I apologize in advance.
I am 23 years old and would now like to move out of my parents' house after completing my vocational training. Now I am faced with the question: buying a property or renting an apartment?
I have considered buying a house for about 160,000 from 1997 instead of renting an apartment. For that, I would of course have to take out a loan. However, this house is not supposed to be my permanent residence (at least not for the moment). My plan is to sell the house again when a plot of land becomes available in my preferred place of residence and I can then build there. Since I can sell the house again, I hope, given the current interest rates, not to incur as large losses as I would if I rented an apartment.
Of course, I do not know what the real estate market will look like in ten years. Is it really more profitable to finance a house than to pay rent monthly?
Thanks for the answers and tips!

Regards
Lasse
 

HilfeHilfe

2020-08-16 13:13:41
  • #2
Actually, it is nonsense to buy a house temporarily. You have the ancillary purchase costs that have no value and must hope to sell without losses. At such purchase prices, the rent will certainly be so attractive that saving equity is more advisable.
 

charli

2020-08-16 14:02:34
  • #3
Do you already know where you will work? Maybe in a few years you will change your location, want/have to move, and then you have a property to deal with. At least the incidental acquisition costs are lost. Ancillary costs for a house are usually significantly higher than for an apartment. With a house built in 1997, one or another repair will certainly be due by now as well. My advice is also to rent first and save equity.
 

ypg

2020-08-16 14:13:42
  • #4
Owning a house means dependency and responsibility. You are immobile and have to take care not only of yourself but also of the garden and (especially with a 23-year-old or older property) maintenance. The heating system needs attention and much more. If we don’t want our garden to become neglected, we feel like we invest time every other weekend, sometimes more, sometimes less. Once a year, a trailer must be filled and taken for disposal. Monthly, we spend about 50€ on the garden and 100€ on the house (heating inspection, etc.). Utility costs are also higher than in an apartment. If you feel like wasting your young life on this, then go ahead. Personally, after finishing my training, I’d have a lot of other things to catch up on. Now, of course, I’m in the mood for gardening.
 

Unsure

2020-08-16 17:06:20
  • #5
Rental apartment, rental apartment, rental apartment. Did I forget something? Oh yes, rental apartment!
 

PyneBite

2020-08-17 10:55:20
  • #6
You could possibly also rent out later and do not have to sell.

In which region is the house and what would rent cost for your desired apartment?

Alternatively, I would recommend checking if there is a small apartment to buy. There, the obligations regarding the garden are not as high. Maintenance is usually also automatically covered through the monthly maintenance reserve.

It also depends a bit on your income and your planning for the next 10 years.
 

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